The guide price reflects an approximate $1,157 psf per plot ratio (ppr), inclusive of land betterment charges, says Knight Frank Singapore on Jan 5.
The site occupies a land area of approximately 11,956 sq ft and is zoned for residential use under the 2025 Master Plan, with a gross plot ratio of 1.4.
According to Knight Frank Singapore, this would enable the development of a boutique residential project comprising 13 units, each averaging 100 sqm, subject to approval.
See also: Ramp-up freezer and chiller warehouse in 8 Jalan Besut for lease
Situated within a tranquil low-rise residential enclave, the site offers a rare balance of privacy and accessibility. Its proximity to East Coast Park provides residents with convenient access to nature, recreation and waterfront leisure, while being just a stone’s throw from East Coast Road. Retail destinations such as i12 Katong, Katong Shopping Centre and Parkway Parade are within close reach, according to Knight Frank Singapore.
The site is also near reputable schools: Haig Girls’ School and Tanjong Katong Primary School within a 1km radius, and CHIJ (Katong) Primary School, Kong Hwa School and Tao Nan School within 2km.
The site also enjoys convenient access to major expressways, including the East Coast Parkway (ECP) and Pan-Island Expressway (PIE), as well as to Marine Parade MRT Station, according to Knight Frank Singapore.
See also: Indonesia may seize five million hectares of illegal land this year
The public tender exercise for 17 Seraya Road will close at 3pm on Feb 3.
Held under a single legal title, 17 Seraya Road offers deal certainty and an attractive, palatable scale for developers, says Mary Sai, executive director, capital markets, Knight Frank Singapore.
“Homeownership in District 15 remains highly sought after, underpinned by its lifestyle appeal, accessibility to the Central Business District and other parts of Singapore, and proximity to reputable schools,” adds Sai.
Knight Frank Singapore notes a pick-up in transactions of small-scale residential sites in the area in recent years. These include Chiku Mansions, the former East Court Apartments, and the Haig Road site, now redeveloped as Ardor Residence by the Chinese developer NanShan Group.
The 35-unit boutique development Ardor Residence, located in proximity to the subject site, has achieved approximately over 71% sales at an average price of $2,460 psf, notes Knight Frank Singapore, “underscoring a healthy take-up for well-located boutique offerings”.
June Yang, deputy director, capital markets, Knight Frank Singapore, says the consistent take-up of recent boutique developments in District 15 reflects “sustained demand” for low-density residential offerings in the East. — Jovi Ho
Two adjoining double-storey shophouse units along Syed Alwi Road for sale at $9.2 mil
Two adjoining double-storey shophouse units along Syed Alwi Road are up for sale at a guide price of $9.2 million, or $2,305 psf on a floor area basis, according to sole marketing agent ETC, a member of Realion Group.
Located near the junction of Jalan Besar and Syed Alwi Road in District 8, the shophouses at 68 and 69 Syed Alwi Road are within 350m of Jalan Besar MRT Station on the Downtown Line. Each unit occupies approximately 105 sqm of land and 185 sqm of floor area, ETC says in a Jan 5 announcement.
The tenure for 68 Syed Alwi Road is 99 years from Nov 12, 1999, while the tenure for 69 Syed Alwi Road is 99 years from Nov 15, 1999.
Under the URA Master Plan 2025, the properties are zoned for commercial use and are therefore not subject to Additional Buyer’s Stamp Duty (ABSD) or restrictions on foreign ownership.
The shophouses can be sold individually or collectively. The sale will be conducted via an expression of interest (EOI) exercise, which will close at 3pm on Jan 29.
Jalan Besar has evolved into a dynamic commercial and lifestyle enclave, says ETC. The area is also a popular food destination, home to established eateries such as Sungei Road Laksa, Swee Choon Tim Sum, and Beach Road Scissors Cut Curry Rice.
The precinct is further supported by nearby retail malls, including New World Centre, Jalan Besar Plaza, Mustafa Centre and Centrum Square, adds ETC.
Swee Shou Fern, head of investment advisory at ETC, says shophouses in District 8 have seen growing investor interest in recent years. “The area’s long-term investment appeal is underpinned by a combination of heritage character, location and the broadened mix of uses, which continue to generate strong and sustained footfall and demand.”
According to URA caveat records, 77 shophouse transactions were recorded in 2025. District 8 accounted for the largest share, with 24 transactions, or approximately 31% of total shophouse transactions.
Against this backdrop, these two adjoining shophouses along Syed Alwi Road are well-suited for both owner-occupiers and investors, adds Swee. “[They cater] to both investors seeking income visibility, as well as owner-occupiers looking to build a business presence within a bustling precinct.”
Three adjoining two-storeyed shophouses on the same street — 65, 66 and 67 Syed Alwi Road — were put up for sale by ETC in August 2020. — Jovi Ho
Singapore’s Beverly Group said to be eyeing prime TRX plot in Kuala Lumpur
TRX City, the master developer of the 70-acre Tun Razak Exchange (TRX), is said to have sold yet another piece of land in the city centre of Kuala Lumpur, Malaysia.
The buyer of the nearly one-acre plot is the low-profile developer Beverly Group, according to several sources.
Raine & Horne International Zaki+Partners estimates the land value at between RM3,500 psf and RM4,500 psf ($1,108 to $1,425 psf), which translates to more than RM150 million. Meanwhile, Henry Butcher Malaysia estimates the value of the TRX land at about RM4,000 psf.
Both consultants estimate the value of land outside TRX to be between RM2,000 psf and RM3,000 psf, depending on location and land-use category.
The TRX parcel is just next to CORE Residence (see map). The Ministry of Finance wholly owns TRX City.
A company search shows that Beverly Group’s major shareholder is Singapore’s Qingdao Investments. Beverly Group’s profit after tax for its financial year ended Dec 31, 2024, stood at RM56.75 million, while its revenue was RM127 million.
According to its website, the developer’s current focus is Malaysia, where it owns 46.29 acres in Kuala Lumpur for nine housing projects with an estimated gross development value of RM4.4 billion.
Among its projects are its flagship Marc Serviced Residence along Jalan Pinang; 28 Boulevard in Pandan Perdana, Cheras; and those in its Quartz WM township in Wangsa Maju, including Lexa Residence, Fera Residence, Altris Residence, Henna Residence and Milla Residence. — Rosalynn Poh
This story first appeared in the Dec 22, 2025 issue of The Edge Malaysia
Six-storey corner commercial building at 28 Carpenter Street for sale at $65 mil
A fully tenanted six-storey corner commercial building at 28 Carpenter Street is up for sale at a guide price of $65 million, which translates to approximately $3,685 psf on the total floor area of 17,639 sq ft.
The property, taking up a land plot of 3,065 sq ft, sits on a corner plot with a 40m dual frontage along Carpenter Street and New Bridge Road.
In 2024, extensive addition and alteration works were done on the property, which involved the top-up of its land tenure to a fresh 99-year lease. Its ground-floor space has been converted for use as a restaurant space.
The property features a mural of two opera singers done by Sean Dunston, who was in the news last year for his mural of a smoking samsui woman at 297 South Bridge Road.
“Standalone boutique commercial developments in the prestigious District 1 are exceptionally rare and highly sought-after, typically tightly held by discerning investors,” says Clemence Lee, executive director of capital markets, Singapore at CBRE, which is handling this sale.
“With new office supply expected to further constrict in 2026, coupled with robust leasing demand, and declining vacancy rates, office rents are projected to increase. Therefore, 28 Carpenter Street presents a compelling opportunity for significant rental and capital appreciation over the medium to long term,” he adds.
According to CBRE, the precinct where this property is located is set for further rejuvenation, with several new developments expected to inject new vibrancy into the district.
These include the newly refreshed CQ @ Clarke Quay, following a $62 million asset enhancement; the upcoming Canninghill Piers — an integrated mixed-use development comprising 696 residential units alongside retail, hotel and serviced residences; and Union Square, which will offer Grade A offices, 366 residential units, retail spaces and co-living facilities.
“28 Carpenter Street’s prime corner location and striking artwork establish it as a prominent landmark within the CBD, making it a rare and valuable asset,” says Lee. “Its exceptional location, directly opposite Clarke Quay MRT [Station] and offering immediate access to a vibrant mix of dining, retail and lifestyle amenities, further enhances its appeal.”
The sale will be conducted via an expression of interest exercise, which closes at 3pm on Feb 11. — City & Country
Leasehold portion of The Centrepoint up for collective sale with guide price of $418 mil
The leasehold portion of The Centrepoint along Orchard Road is up for collective sale, with a guide price of $418 million.
Besides the mall, which Centrepoint is better known for, there is a residential component of 66 apartments.
The guide price of $418 million translates to $2,709 psf ppr, after factoring in a land betterment charge of $260 million to top up the lease to a fresh 99 years and intensify the site to a plot ratio of 5.6. The property was opened in 1983.
The site is currently zoned for commercial use under the 2025 Master Plan and has a gross plot ratio of 5.6 and height control of up to 10 storeys.
The property is unusual in that it sits on two adjoining land parcels. The freehold plot with 151 retail units is majority held by Frasers Property, with prime Orchard Road frontage.
Slightly further off the main road is a 99-year leasehold L-shaped portion — which is being put up for sale — consisting of 132 strata units of 66 retail units and the 66 apartments.
“Developers have been bidding aggressively for government land sale sites and some of these will be keen to buy a part of The Centrepoint,” says Jeremy Lake, managing director of investment sales and capital markets at Savills Singapore, which is handling the sale. “For this reason, we are confident we can exceed the guide price.”
According to Lake, Savills Singapore has built a track record of successfully brokering several major collective sales along Orchard Road. The list includes Concorde Hotel and Shopping Mall, sold for $821 million, or $1,804 psf ppr in 2024; Delfi Orchard for $439 million or $3,346 psf ppr in May 2024; Tanglin Shopping Centre in February 2022 for $868 million, or $2,769 psf ppr; and Ming Arcade for $172 million, or $3,125 psf ppr in December 2022.
“The Centrepoint continues this strong track record and further reinforces the appeal of Orchard Road among institutional and private developers,” says Lake.
There are no restrictions on foreign ownership.
The public tender was launched on Jan 7 and will close on Feb 26 at 3pm. — City & Country
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